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March 23, 2012 - MEDC Notice of Intention

MISSION ECONOMIC DEVELOPMENT CORPORATION

NOTICE OF INTENTION

BUDGET AMENDMENT TO FY 2011-12 BUDGET

TAKE NOTICE that the Mission Economic Development Corporation of the City of Mission, (the “MEDC”), shall convene not earlier than 60 days after first publishing this notice and shall consider authorizing a Budget Amendment to the FY 2011-12 Budget, as hereinafter described, pursuant to the provisions of V.T.C.A. Local Government Code Sections 505.001 et seq.  The MEDC is authorized on behalf of the City of Mission, Texas to undertake the Project or Projects by paying the cost of the Project or Projects with sales tax revenues authorized under said Local Government Code sections.

The Board of Directors of the MEDC will determine whether the Project or Projects will be undertaken and whether it will finance the cost of the Project or Projects with proceeds from sales tax revenues.

The Project or Projects shall consist of the following (1) North American Butterfly Association (NABA) in an amount not to exceed $100,000; (2) Invest an amount not to exceed $1,000,000 within in a 10 year period into a regional project that will attract high growth and knowledge based business; (3) Superior Oil Express job creation grant in an amount not to exceed $20,000; (4) Sanitary Sewer extension west of Inspiration Rd on FM 495 in an amount not to exceed $165,000; and (5) offsite drainage improvement on Travis St. in an amount not to exceed $15,000.  Anyone interested is invited to attend and present their comments.

Date of Publication:    March 23, 2012

Anna Carrillo

City Secretary

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